Deutsche bank: Fifteen shades of fraud

I was a bit sated with tales about banksters from Cyprus.
How about Deutsche Bank, the biggest bank of Europe, sweetheart of the German
government and, Lehman style, “Chief Executive Officer Josef Ackermann, who has
referred to plans to control bank size “misguided,” and who will bequeath a
balance sheet about 40 percent larger than in 2006, and over 80 percent as huge
as Germany’s economy, when he leaves his post in May. The bank is the second
most-leveraged and third least-capitalized of Europe’s 10 largest banks”. A
quick Google search on ‘Deutsche Bank’ and ‘Fraud’ revealed the next fifteen
links:

10.A housing company swindle in the Netherlands:
The CFO, thebroker and the bank:
Vestia derivative disaster appears instantly more than ‘merely a case of
megalomanic trading’

1 11.Deutsche
Bank Derivative Aided Monte Paschi to Cover Up Losses. “I don’t comprehend why
a financial firm would get involved in a practice like this for legitimate
goals,” said Frank Partnoy, a professor of law and finance at the University of
San Diego (85090MF) who designed derivatives at Morgan Stanley and has gone
over the files. “They should never do that.”

1 12. India: “It is hard to imagine
that a company such as Deutsche Bank would bare themselves quite unguarded
against such frauds, and brags profusely about the checks and balances being
undertaken, or the lack thereof.”

13. An award-winning article (by
Jesse Frederik and Eric Smit, Jesse being an infrequent writer in this blog)
about a Deutsche Bank derivatives fraud which cost a
financially-once-more-than-stable recycling company 209 million

1 14.“Deutsche Bank’s management and
supervisory board were discussing provisions ranging from $300 million (247
million euros) to $1 billion, according to Handelsblatt, which cited sources in
the sector.“

1 15.Pforzheim,
a German city, sues Deutsche Bank due to alleged swindle.